The expected flow of the real estate market goes something like this: First-time buyers enter the market in starter homes, the generation in starter homes moves up into larger houses and those at retirement age move to downsize. Baby Boomers (born between 1946-1964) are nearing retirement age however it seems the reality is, they’re not following the expected progression of buying and selling.
Baby Boomers’ Reality – Baby Boomers are staying in their homes longer than other generations and 59% do not plan to sell their home when they retire.
Thank you for reading. I hope you found this information useful.
Jeff Pittman, Realtor in Ladera Ranch – Orange County, California